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Southwest Airlines Co. (LUV)
NYSE: LUV · Real-Time Price · USD
46.31
+0.93 (2.05%)
At close: Jul 28, 2026, 4:00 PM EDT
46.35
+0.04 (0.09%)
After-hours: Jul 28, 2026, 7:25 PM EDT

Southwest Airlines Co. Financials Overview

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Revenue
8,4327,2507,4426,9497,2446,4286,9306,8707,3546,3296,8236,5257,0375,7066,1726,2206,7284,6945,0514,679
Revenue Growth
16.40%12.79%7.39%1.15%-1.50%1.56%1.57%5.29%4.50%10.92%10.55%4.90%4.59%21.56%22.19%32.93%67.86%128.75%150.92%160.96%
Gross Profit
5,2875,0645,2634,7715,0204,3654,8654,6254,8943,9734,3034,1784,9043,5113,9793,8714,4943,1333,4303,063
Operating Income
28533039135225-22327838398-393-404117795-284-3853951,158-151195733
Net Income
23322732354213-14926167367-231-252193683-159-220277760-27868446
Earnings Per Share
0.470.450.610.100.39-0.260.420.110.58-0.39-0.420.311.08-0.27-0.370.441.20-0.470.110.73
EPS Growth
20.51%-45.24%-9.09%-32.76%---64.52%-46.30%---29.54%-10.00%---39.73%110.53%---

Revenue by Segment
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Passenger Non-Loyalty
6,1045,1885,3314,8965,4484,7665,1515,0925,5444,6805,0504,7585,1834,0824,5334,6305,1183,3643,7053,443
Passenger Loyalty - Air Transportation
766688784805870800894896895799909916989825792791821624688621
Passenger Ancillary Sold Separately
875715669612309245261262273233252238237198216192180147165163
Freight
5044434244424543454244444741434447424747
Other
637614614594573576579577597575567569581560588563562517447405
Revenue (Total)
8,4327,2507,4426,9497,2446,4286,9306,8707,3546,3296,8236,5257,0375,7066,1726,2206,7284,6945,0514,679

Cash & Debt
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Cash & Investments
3,7913,3283,2313,0183,8398,2528,7259,38210,00210,51211,47411,73312,17911,67412,29213,67316,43115,74015,50416,004
Total Debt
6,8896,3965,9815,2585,3417,9958,0589,0959,1099,1619,2009,2739,3289,3769,43110,11212,00112,24112,28112,815
Net Cash (Debt)
-3,098-3,068-2,750-2,240-1,5022576672878931,3512,2742,4602,8512,2982,8613,5614,4303,4993,2233,189
Net Cash Growth
------80.98%-70.67%-88.33%-68.68%-41.21%-20.52%-30.92%-35.64%-34.32%-11.23%11.67%23.92%123.86%183.97%62.13%
Net Cash Per Share
-6.28-6.10-5.28-4.26-2.780.441.040.481.392.263.823.844.463.874.825.576.985.915.345.25

Cash Flow & CapEx
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Operating Cash Flow
5301,418295287401860476113-23-1044256161,4167065792341,9061,071247-575
Capital Expenditures
-818-630-859-678-660-527-460-517-494-583-708-842-925-1,046-1,356-1,072-987-510-180-135
Free Cash Flow
-288788-564-391-25933316-404-517-687-283-226491-340-777-83891956167-710
Free Cash Flow Growth
-136.64%-----------46.57%----51.89%2.00%--

Margins
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Gross Margin
62.70%69.85%70.72%68.66%69.30%67.91%70.20%67.32%66.55%62.77%63.07%64.03%69.69%61.53%64.47%62.23%66.80%66.74%67.91%65.46%
Operating Margin
3.38%4.55%5.25%0.50%3.11%-3.47%4.01%0.55%5.41%-6.21%-5.92%1.79%11.30%-4.98%-6.24%6.35%17.21%-3.22%3.86%15.67%
Pretax Margin
3.63%3.94%5.48%0.98%3.87%-2.99%4.75%1.30%6.50%-4.71%-4.19%3.63%12.59%-3.59%-4.62%5.68%15.40%-8.01%1.52%12.82%
Profit Margin
2.76%3.13%4.34%0.78%2.94%-2.32%3.77%0.98%4.99%-3.65%-3.69%2.96%9.71%-2.79%-3.56%4.45%11.30%-5.92%1.35%9.53%
FCF Margin
-3.42%10.87%-7.58%-5.63%-3.58%5.18%0.23%-5.88%-7.03%-10.85%-4.15%-3.46%6.98%-5.96%-12.59%-13.47%13.66%11.95%1.33%-15.17%

Dividends
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22
Dividend Per Share
0.1800.1800.1800.1800.1800.1800.1800.1800.1800.1800.1800.1800.1800.1800.180
Dividend Per Share Growth
0%0%0%0%0%0%0%0%0%0%0%----
Dividend Yield
0.35%0.50%0.00%1.13%0.59%0.55%-0.00%1.22%0.00%1.23%0.00%1.33%0.00%1.11%-2.04%

Valuation
Chart
Fiscal QuarterQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period EndingJun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
PE Ratio
31.5524.2452.3249.0949.1539.5144.24-357.6350.3338.0036.0941.1532.5438.7024.0923.0148.7226.61-
Forward PE
16.889.8415.5817.7921.2618.8721.5343.6623.2118.7727.8513.5911.2411.9211.3012.7310.8537.3641.5860.85
P/FCF Ratio
---------------25.7925.5914.8613.9628.62
PS Ratio
0.840.640.760.610.670.720.730.650.630.650.660.630.860.780.840.811.011.471.612.39